Market Flash

Honeywell announced plans to spin off its advanced materials business into an independent U.S. public company, which is expected to be completed by the end of 2025 or early 2026. Honeywell expects to execute the plan tax-free to shareholders.

• Honeywell

SK Pharmteco, a South Korean contract development and manufacturing organization (CDMO), announced a major expansion of its small molecule and peptide production capabilities, investing $260 million to build a new plant in Sejong, South Korea.

• SK Pharmteco

Bloomage Biotechnology, which focuses on the innovation of hyaluronic acid and other bioactive substances, announced that its new pilot plant has been completed.

• Bloomage Biotechnology

AP Moller Holding, parent company of shipping giant Maersk, has established Vioneo, a fossil-free plastic resin manufacturer, and plans to establish its first production site in Antwerp, Belgium.

• Vioneo
• AP Moller Holding

Cosmewax, the Spanish manufacturer of skin care and hair removal products, continues to expand and has just invested 11 million euros to build a new factory in Puzol, Valencia, Spain.

• Cosmewax

Cambrex announced that its Snapdragon Chemistry company has developed a new liquid phase peptide synthesis (LPPS) technology that utilizes an active pharmaceutical ingredient (API) batch reactor and continuous flow.

• Cambrex
• liquid phase peptide synthesis

The Indonesian State Administration of Trade (BPOM) and the Ministry of Trade have taken measures to stop the distribution of about 415,000 illegal cosmetics, most of which are imported from China, the Philippines, Thailand and Malaysia.

• BPOM
• Indonesia cosmetic

Deciem, the parent company of The Ordinary, is launching a new body care brand, Loopha, which is described as a "scented" home and self-care lifestyle brand with a "scientific soul".

• Deciem
• Loopha

OM Marine of Singapore has successfully ordered two 13,800 DWT stainless steel chemical tankers in China by Jiangxi Xinjiangzhou Shipbuilding Heavy Industry Company.

Retroactive to August 11, 2023, the European Commission has initiated an anti-dumping investigation procedure against alkyl phosphate originating in China.

The report highlights that among industries, specialty chemicals are expected to show high growth in the electronics industry, especially in semiconductor, silicon and integrated circuit processes.

Avient, a provider of professional and sustainable material solutions, announced that it will expand its NEU™ customization capabilities and NEUSoft™ thermoplastic polyurethane (TPU) production for catheter applications at its Suzhou plant in China.

• Avient
• TPU

Cepsa Química has just launched its new product, NextLab Low Carbon, for Europe and Asia. The production process of NextLab Low Carbon uses renewable heat energy instead of traditional fossil fuels, thus reducing factory emissions.

• Cepsa Química
• NextLab Low Carbon

Edward Life Sciences has announced that 40 of its employees have been notified under a global layoff plan.

China's huge economic size, the full swing of urbanization and continuous investment in infrastructure construction have jointly built a solid foundation for the development of the coating industry.

On September 12, 2024, in the press conference of the Top 500 petroleum and chemical enterprises' sales revenue in 2024 held in Dongying City, Shandong Province

On September 16, 2024, the German Federal Institute for Risk Assessment (BfR) released a compelling study that provides an in-depth look at acrylamide levels in many common foods currently on the food market.

In the first seven months of this year, China's imports of cassava starch from Southeast Asian countries totaled $1.08 billion, of which nearly 800,000 tons were imported from Vietnam, the Viet Cong Electronic News reported.

Graco announced that it has entered into a definitive agreement to acquire Corob for €230 million, subject to customary adjustments and up to €30 million in additional contingent consideration.

• Graco
• Corob

Solvay and MCassab announce the launch of oxygenated solvents Augeo® Clean Multi and Hexylene Glycol for the Brazilian pet care market.

• Solvay
• MCassab